Bussiness
Intel considers foundry business split in turnaround: BBG
Intel (INTC) is reported to be exploring strategic options with Morgan Stanley (MS) and Goldman Sachs (GS), according to Bloomberg, a move that could split apart the semiconductor manufacturer’s foundry segment. Intel shares are rising in Friday’s pre-market trading, while it is down by 40% over the last year and has fallen by nearly 60% year-to-date in 2024.
The Morning Brief’s Brian Sozzi and Brad Smith discuss what this could mean for Intel as it attempts to better compete with chip giant Nvidia (NVDA), looking back on Intel’s August 1 earnings report where it citied plans to layoff 15,000 workers.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Luke Carberry Mogan.
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